Emerald Advisers Inc. PA reduced its stake in shares of PDC Energy Inc (NASDAQ:PDCE) by 98.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,780 shares of the energy producer’s stock after selling 228,474 shares during the period. Emerald Advisers Inc. PA’s holdings in PDC Energy were worth $246,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. MHI Funds LLC purchased a new stake in shares of PDC Energy during the fourth quarter valued at $138,000. First Mercantile Trust Co. boosted its stake in shares of PDC Energy by 93.3% during the fourth quarter. First Mercantile Trust Co. now owns 2,900 shares of the energy producer’s stock valued at $149,000 after purchasing an additional 1,400 shares during the period. Flinton Capital Management LLC boosted its stake in shares of PDC Energy by 67.0% during the second quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock valued at $126,000 after purchasing an additional 1,168 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PDC Energy by 50.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock valued at $185,000 after purchasing an additional 1,201 shares during the period. Finally, Connable Office Inc. purchased a new stake in shares of PDC Energy during the third quarter valued at $202,000.
A number of analysts have recently issued reports on PDCE shares. Stifel Nicolaus reissued a “buy” rating and set a $81.00 target price (down from $82.00) on shares of PDC Energy in a research note on Tuesday, November 7th. BidaskClub lowered shares of PDC Energy from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Williams Capital boosted their target price on shares of PDC Energy from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Credit Suisse Group started coverage on shares of PDC Energy in a research note on Monday, December 11th. They set a “neutral” rating and a $51.00 target price for the company. Finally, Barclays boosted their target price on shares of PDC Energy from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $67.05.
In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 1,500 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $51.86, for a total value of $77,790.00. Following the completion of the transaction, the chief executive officer now directly owns 173,473 shares in the company, valued at $8,996,309.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey C. Swoveland sold 1,700 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $55.83, for a total transaction of $94,911.00. Following the completion of the transaction, the director now owns 21,519 shares of the company’s stock, valued at $1,201,405.77. The disclosure for this sale can be found here. Insiders sold 7,200 shares of company stock valued at $386,751 over the last quarter. 0.91% of the stock is currently owned by corporate insiders.
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PDC Energy Profile
PDC Energy, Inc is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.
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